10-Q/A Filing

RESEARCH SOLUTIONS, INC. CIK: 1386301 Q1 2012

Filing Information

Form Type	10-Q/A
Accession Number	`0001144204-11-069192`
Period End Date	20110930
Filing Date	20111209
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	dysc-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 94 Income Statement 31 Cash Flow Statement 56 Stockholders Equity 11

Balance Sheet 94 line items

Line Item	Tag	Value	Unit	Period
Trade receivables, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$223.30K	USD	Point-in-time
Trade receivables, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$201.58K	USD	Point-in-time
PROPERTY AND EQUIPMENT, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$987.70K	USD	Point-in-time
PROPERTY AND EQUIPMENT, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$724.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.87M	USD	Point-in-time
INTANGIBLE ASSETS, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$858.55K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.85M	USD	Point-in-time
INTANGIBLE ASSETS, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$641.70K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.05M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Trade receivables, net of allowance of $201,584 and $223,298, respectively	`AccountsReceivableNetCurrent`	$6.69M	USD	Point-in-time
Trade receivables, net of allowance of $201,584 and $223,298, respectively	`AccountsReceivableNetCurrent`	$6.85M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Due from factor	`OtherReceivablesNetCurrent`	$141.24K	USD	Point-in-time
Due from factor	`OtherReceivablesNetCurrent`	$356.54K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventory	`InventoryNet`	$759.51K	USD	Point-in-time
Inventory	`InventoryNet`	$557.56K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$298.93K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$243.61K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Prepaid royalties	`PrepaidRoyalties`	$721.58K	USD	Point-in-time
Prepaid royalties	`PrepaidRoyalties`	$1.25M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.82M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$18.32K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$16.31K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.07M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	16.82M	shares	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$11.58M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	17.07M	shares	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$12.24M	USD	Point-in-time
PROPERTY AND EQUIPMENT, net of accumulated depreciation of $987,699 and $724,004, respectively	`PropertyPlantAndEquipmentNet`	$1.34M	USD	Point-in-time
PROPERTY AND EQUIPMENT, net of accumulated depreciation of $987,699 and $724,004, respectively	`PropertyPlantAndEquipmentNet`	$1.67M	USD	Point-in-time
INTANGIBLE ASSETS, net of accumulated amortization of $858,554 and $641,698, respectively	`IntangibleAssetsNetExcludingGoodwill`	$1.69M	USD	Point-in-time
INTANGIBLE ASSETS, net of accumulated amortization of $858,554 and $641,698, respectively	`IntangibleAssetsNetExcludingGoodwill`	$1.88M	USD	Point-in-time
GOODWILL	`Goodwill`	$1.57M	USD	Point-in-time
GOODWILL	`Goodwill`	$1.57M	USD	Point-in-time
DEPOSITS AND OTHER ASSETS	`DepositsAndOtherAssetsNoncurrent`	$283.58K	USD	Point-in-time
DEPOSITS AND OTHER ASSETS	`DepositsAndOtherAssetsNoncurrent`	$308.72K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$16.47M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$17.66M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.68M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.30M	USD	Point-in-time
Capital lease obligation, current	`CapitalLeaseObligationsCurrent`	$663.97K	USD	Point-in-time
Capital lease obligation, current	`CapitalLeaseObligationsCurrent`	$476.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$748.97K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$654.30K	USD	Point-in-time
Notes payable, current	`NotesPayableCurrent`	$57.79K	USD	Point-in-time
Notes payable, current	`NotesPayableCurrent`	$53.25K	USD	Point-in-time
Due to factor	`DueToFactorCurrent`	$319.44K	USD	Point-in-time
Due to factor	`DueToFactorCurrent`	$312.44K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$71.90K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$20.37K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$1.08M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$1.44M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$158.24K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$111.48K	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$10.40M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$9.74M	USD	Point-in-time
Notes payable, long term	`LongTermNotesPayable`	$92.46K	USD	Point-in-time
Notes payable, long term	`LongTermNotesPayable`	$110.08K	USD	Point-in-time
Capital lease obligation, long term	`CapitalLeaseObligationsNoncurrent`	$1.28M	USD	Point-in-time
Capital lease obligation, long term	`CapitalLeaseObligationsNoncurrent`	$1.21M	USD	Point-in-time
Liability for estimated earnout	`OtherLiabilitiesNoncurrent`	$359.34K	USD	Point-in-time
Liability for estimated earnout	`OtherLiabilitiesNoncurrent`	$359.34K	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$350.00K	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$350.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$12.42M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$11.84M	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock; $0.001 par value; 20,000,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock; $0.001 par value; 20,000,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock; $0.001 par value; 100,000,000 shares authorized; 17,069,437 and 16,822,509 shares issued and outstanding	`CommonStockValue`	$17.07K	USD	Point-in-time
Common stock; $0.001 par value; 100,000,000 shares authorized; 17,069,437 and 16,822,509 shares issued and outstanding	`CommonStockValue`	$16.82K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$8.01K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-11.59K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$13.47M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$13.37M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.65M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.34M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$5.82M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$4.05M	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$17.66M	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$16.47M	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
NET SALES	`SalesRevenueNet`	$6.02M	USD	1 Quarter
NET SALES	`SalesRevenueNet`	$9.86M	USD	1 Quarter
COST OF SALES	`CostOfGoodsAndServicesSold`	$8.39M	USD	1 Quarter
COST OF SALES	`CostOfGoodsAndServicesSold`	$5.20M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$816.85K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$1.47M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.44M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.03M	USD	1 Quarter
Marketing and advertising	`MarketingAndAdvertisingExpense`	$188.41K	USD	1 Quarter
Marketing and advertising	`MarketingAndAdvertisingExpense`	$114.53K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$59.55K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$486.00K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$1.21M	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$3.11M	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-390.73K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-1.64M	USD	1 Quarter
Currency gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-1.47K	USD	1 Quarter
Other Income	`OtherNonoperatingIncomeExpense`	$2.25K	USD	1 Quarter
Interest expense	`InterestExpense`	$15.15K	USD	1 Quarter
Interest expense	`InterestExpense`	$51.69K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$609.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$307.00	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-1.69M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-405.27K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$19.60K	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-1.67M	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-405.27K	USD	1 Quarter
BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	1 Quarter
BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
BASIC AND DILUTED	`WeightedAverageNumberBasicDilutedSharesOutstanding`	13.01M	shares	1 Quarter
BASIC AND DILUTED	`WeightedAverageNumberBasicDilutedSharesOutstanding`	16.98M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.69M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-405.27K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$505.11K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$76.47K	USD	1 Quarter
Fair value of vested stock options	`StockOptionPlanExpense`	$37.08K	USD	1 Quarter
Fair value of vested stock options	`StockOptionPlanExpense`	$20.53K	USD	1 Quarter
Fair value of warrants issued for services	`OtherNoncashIncome`	$398.90K	USD	1 Quarter
Fair value of common shares issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$17.65K	USD	1 Quarter
Fair value of warrant extensions	`AdjustmentOfWarrantsGrantedForServices`	$264.71K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$381.89K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$163.79K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$4.38K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-201.94K	USD	1 Quarter
Due from Factor	`IncreaseDecreaseInOtherReceivables`	$-215.30K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-22.23K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-55.31K	USD	1 Quarter
Prepaid royalties	`IncreaseDecreaseInPrepaidRoyalties`	$-524.29K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-20.26K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-27.16K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-394.76K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.39M	USD	1 Quarter
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-141.43K	USD	1 Quarter
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-57.33K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.09M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$821.60K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$15.45K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$30.68K	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$27.84K	USD	1 Quarter
Acquisition of remaining interest in Pools Press	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	$120.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-58.52K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-135.45K	USD	1 Quarter
Payment of notes payable	`RepaymentsOfNotesPayable`	$13.09K	USD	1 Quarter
Due to factor	`ProceedsFromPaymentsForOtherFinancingActivities`	$7.00K	USD	1 Quarter
Payment of capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	$8.23K	USD	1 Quarter
Payment of capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	$258.20K	USD	1 Quarter
Payment of related parties	`RepaymentsOfRelatedPartyDebt`	$51.53K	USD	1 Quarter
Advances (payments) under line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$1.38M	USD	1 Quarter
Advances (payments) under line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-354.23K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-670.03K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.37M	USD	1 Quarter
Effect of exchange rate changes	`EffectOfExchangeRateOnCashAndCashEquivalents`	$83.96K	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$177.01K	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$144.84K	USD	1 Quarter
CASH AND CASH EQUIVALENTS, Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.87M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.85M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.00M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.05M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, End of period	`CashAndCashEquivalentsAtCarryingValue`	$2.87M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, End of period	`CashAndCashEquivalentsAtCarryingValue`	$1.85M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, End of period	`CashAndCashEquivalentsAtCarryingValue`	$2.00M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, End of period	`CashAndCashEquivalentsAtCarryingValue`	$3.05M	USD	Point-in-time
Taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Interest paid	`InterestPaid`	$15.15K	USD	1 Quarter
Interest paid	`InterestPaid`	$51.69K	USD	1 Quarter
Adjustment to additional paid in capital to reflect acquisition of remaining noncontrolling interest	`AdjustmentsToAdditionalPaidInCapitalPurchaseOfNoncontrollingInterest`	$34.90K	USD	1 Quarter

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$5.82M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$4.05M	USD	Point-in-time
Fair value of options issued to employees	`AdjustmentsToAdditionalPaidInCapitalOptionIssued`	$37.08K	USD	1 Quarter
Fair value of warrants issued for services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$48.94K	USD	1 Quarter
Adjustment to fair value of warrants granted to consultants	`AdjustmentsToAdditionalPaidInCapitalOther`	$-447.84K	USD	1 Quarter
Fair value of warrant extensions	`AdjustmentsToAdditionalPaidInCapitalAssociatedWithExtensionOfExpirationDateOfWarrants`	$-264.71K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-1.69M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-405.27K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$19.60K	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$5.82M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$4.05M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.